Danish fintech startup Pleo has raised an additional $3.25 million for its seed round, originally announced last year, bringing the total investment to $5.5 million.
This round was led by Creandum along with Seedcamp and Founders. The startup, which provides a subscription-based platform for companies to automate expenses, first announced the seed funding round last September of $3 million, led by Founders.
Pleo launched early betas in Denmark and the UK and now has around 1,000 businesses signed up. It will now be growing its team, according to cofounders Jeppe Rindom and Niccolo Perra, both formerly of Tradeshift.
Creandum general partner Johan Brenner will be joining Pleo’s board.
“Dealing with expenses today involves too many manual processes and creates friction for businesses everywhere. With Pleo, it’s now easy to buy things for work and seamlessly manage and control expenses,” he said. “There are lots of expense apps out there but none that provides the ease of use and integrated solution. We just love strong teams and great products and are proud to partner up with Jeppe and Nicco.”